Hostess Brands, Inc. (TWNK) Shares Bought by Granite Point Capital Management L.P.
Granite Point Capital Management L.P. increased its stake in shares of Hostess Brands, Inc. (NASDAQ:TWNK) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the company’s stock after buying an additional 4,900 shares during the period. Granite Point Capital Management L.P.’s holdings in Hostess Brands were worth $889,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. First Manhattan Co. purchased a new stake in Hostess Brands during the third quarter worth about $677,000. Wells Fargo & Company MN lifted its holdings in shares of Hostess Brands by 767.8% in the third quarter. Wells Fargo & Company MN now owns 564,160 shares of the company’s stock valued at $7,706,000 after purchasing an additional 499,149 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Hostess Brands in the third quarter valued at about $5,123,000. SG Americas Securities LLC lifted its holdings in shares of Hostess Brands by 125.7% in the third quarter. SG Americas Securities LLC now owns 27,680 shares of the company’s stock valued at $378,000 after purchasing an additional 15,414 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Hostess Brands by 56.9% in the second quarter. Vanguard Group Inc. now owns 6,695,119 shares of the company’s stock valued at $107,791,000 after purchasing an additional 2,428,469 shares in the last quarter. 73.71% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Cdm Hostess Class C, Llc sold 31,685 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $15.30, for a total transaction of $484,780.50. Following the completion of the transaction, the insider now owns 31,685 shares of the company’s stock, valued at $484,780.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Douglas Toler purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were bought at an average cost of $12.88 per share, with a total value of $644,000.00. Following the transaction, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at approximately $3,220,000. The disclosure for this purchase can be found here. Insiders own 25.50% of the company’s stock.
Several brokerages have issued reports on TWNK. BidaskClub downgraded shares of Hostess Brands from a “sell” rating to a “strong sell” rating in a report on Saturday, February 3rd. TheStreet raised shares of Hostess Brands from a “c” rating to a “b-” rating in a report on Thursday, February 8th. Morgan Stanley reduced their price target on shares of Hostess Brands from $14.00 to $12.00 and set an “equal weight” rating on the stock in a report on Thursday, November 9th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $16.00 price target on shares of Hostess Brands in a report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded shares of Hostess Brands from a “buy” rating to a “hold” rating in a report on Wednesday, November 15th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $16.78.
About Hostess Brands
Hostess Brands, Inc, a packaged food company, focuses on developing, manufacturing, marketing, selling, and distributing fresh sweet baked goods in the United States. The company operates in two segments, Sweet Baked Goods and Other. Its principal product lines include Twinkies, Zingers, Donettes, coffee cakes, cupcakes, cinnamon rolls, Ding Dongs, honey buns, fruit pies, Sno Balls, mini muffins, Chocodiles, Ho Hos, brownies, Suzy Qs, bread and buns, danishes, jumbo muffins, iced cookies, eclairs, and madeleines.
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